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Organizational Culture, Learning and Structure in Central Banks: Best Practices and the Case of the Moroccan Central Bank

Monday, 15 September 2014
This paper provides both theoretical and empirical evidence that maintains that a central bank’s organizational structure, culture and learning system are important for achieving best governance practices. It argues that a central bank’s organizational structure and culture facilitate the effective implementation of governance practices that have been enacted by law or in a strategic plan, with specific reference to central bank independence, communication, transparency, professionalization, technical excellence and reputation risk management.

Así afectará el default argentino al resto del mundo

Friday, 1 August 2014
Marcelo Justo
CIGI Senior Fellow Brett House comments on the declaration that Argentina is in a "selective default" position. (NOTE: This article is only available in Spanish.)

Preparing for the Next Global Public Debt Crisis

Thursday, 31 July 2014
"In response to the international financial crisis of 2008, global debt has been driven to high levels, and in the coming years macroeconomic conditions are likely to push debt burdens to even higher ratios across the developed and emerging worlds," writes CIGI Senior Fellow Brett House.

What Drove the Mid-2000s' Explosiveness in Alternative Energy Stock Prices? Evidence from US, European and Global Indices

Tuesday, 29 July 2014
Pierre Siklos, Martin T. Bohl, Philipp Kaufmann
Soaring prices in European alternative energy stocks and their subsequent tumble have attracted attention from both investors and academics. This paper by Martin T. Bohl, Philipp Kaufmann and Pierre L. Siklos extends recent research to an international setting and analyzes whether the explosive price behaviour of the mid-2000s was driven by rising crude oil prices and an overall bullish market sentiment.

CIGI at CEA 2014 (V): Lessons (and caveats) from Czech National Bank's foreign exchange interventions

Monday, 28 July 2014
Kevin English
Guest blogger former CIGI Research Associate Kevin English chronicles CIGI's panel at the 2014 Canadian Economics Association's annual conference, looking at Doug Laxton's presentation on the Czech National Bank's use of foreign exchange interventions.

China backs IMF debt revamp plans

Saturday, 26 July 2014
Christopher Spink
IFR's Christopher Spink cites a CIGI co-sponsored conference and subsequent report on Chinese perspectives on sovereign debt restructuring.

Power Shift and Renminbi Internationalization: Recommendations for the G20

Friday, 25 July 2014
Raluca Diana Ardelean, Mengyun Zhang
China’s growing economic standing suggests a power shift for the twenty-first-century global economy, as exemplified through the internationalization of China’s currency, the renminbi (RMB). RMB internationalization can fill China’s financial integration gap by promoting faster internal financial reforms, stronger interconnectivity between trade and finance, and greater economic responsibility.

Sovereign debt in turbulent times

Wednesday, 23 July 2014
"The recent economic and legal developments in sovereign debt markets have prompted a rethink of sovereign debt governance," write CIGI's Domenico Lombardi and Skylar Brooks. "The choice to chart a new course in debt governance lies with the states that comprise the IMF’s membership.

Central bankers split on whether Big Six banks are too cozy

Monday, 14 July 2014
Kevin Carmichael
Kevin Carmichael, Washington Correspondent for Report on Business, cites former deputy governor at the Bank of Canada David Longworth's contribution to the CIGI-published volume Crisis and Reform: Canada and the International Financial System.

CIGI at CEA (IV): The Tension Between Patience and Pre-emption

Wednesday, 9 July 2014
Kevin English
Guest blogger CIGI Research Associate Kevin English chronicles a presentation on "the brave new world of monetary policy," from CIGI's panel at the 2014 Canadian Economics Association's annual conference.
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